Ipsos poll: Most voters prefer Labor to handle banks fallout but are split on Frydenberg and Bowen

Australians trust Labor more than the Coalition to act on the findings of the banking royal commission as the two major parties trade blows over the sanctions they would impose in response to the damning findings.

A special Ipsos survey finds that 49 per cent of voters favour Labor compared to only 34 per cent who prefer the Coalition, two weeks after the report urged tougher rules for mortgage brokers and a faster end to commissions for financial planners.

The findings come as Labor tries to put the Coalition under pressure in Parliament on Monday with an amendment to give small business owners more scope to challenge big business, setting up another test of the government’s numbers in the House of Representatives.

Labor competition spokesman Andrew Leigh is hoping to challenge the government with an amendment already passed by the Senate to allow a small business to request a “no adverse costs” order in court when taking legal action against a bigger company for a breach of competition law.

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The change will go to the lower house as a message from the Senate on Monday, forcing the government to decide whether to oppose the Labor policy and risk losing another vote on the floor of Parliament.

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Treasurer Josh Frydenberg has launched a series of attacks on Labor over its economic policies and accused shadow treasurer Chris Bowen of proposing tax increases worth $200 billion over a decade.

The new poll suggests Mr Frydenberg is struggling to succeed with his campaign, with only 30 per cent of voters naming him their preferred treasurer while 31 per cent name Mr Bowen. Another 37 per cent said “don’t know” when asked the question.

The result is a turnaround for Mr Bowen compared to a similar question in September 2017 when only 29 per cent named him their preferred treasurer compared to 38 per cent who favoured Scott Morrison, who held the position from September 2015 until becoming Prime Minister last August.

In a split in voter sentiment on one of the Labor tax policies, 43 per cent of voters said they did not want Mr Bowen’s plan to end cash refunds for franking credits on shares under dividend imputation rules kept in place for decades.

Labor called for the royal commission into the banks in early 2016 - about 18 months before the Coalition decided to set up the inquiry - and has signalled tougher measures than the government in response to the report.

One of the recommendations from commissioner Kenneth Hayne, to change fees for mortgage brokers so customers would have to pay up-front rather than trailing commissions, is the subject of a dispute between Labor and the Coalition.

The government has warned against implementing the full recommendation on the grounds it would hurt the brokers and help the major banks, but Labor has accepted the finding in principle.

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Another recommendation, to end commissions for financial planners that were “grandfathered” in laws passed by the Gillard government, is also the subject of dispute because the government wants to end the arrangements in 2021 but Labor believes the commissions could be stopped more than a year sooner.

Labor financial services spokeswoman Clare O’Neil has also named compensation for bank victims as an area where the commission suggested a “minimal” model and a Labor government could go further.

When Coalition voters were asked which party they favoured to act on the commission, 16 per cent named Labor. When Labor voters were asked the same question, only 6 per cent said the Liberal Party.